Former risk adviser convicted

In October 2014, Barry David Hassell of Athelstone, South Australia, pleaded guilty to 39 charges including dishonest conduct, providing ASIC with false or misleading information and failing to provide a disclosure document to clients.

Mr Hassell was a former authorised representative of various licensees, including the TAL-aligned Pivotal (now Affinia Financial Advisers), Suncorp’s Guardian Advice and the now-defunct AAA Financial Intelligence and AAA Shares.

"He has been sentenced to 12 months imprisonment, to be released forthwith on his own recognisance of $100, to be of good behaviour for a period of 12 months," a release stated.

The Adelaide District Court heard that Mr Hassell’s misconduct occurred over a period of more than seven years during his time as a director of BD & WJ Hassell Pty Ltd and as a former authorised representative of a number of Australian financial services licensees.

Mr Hassell provided advice to clients about life insurance and superannuation products.

ASIC deputy chairman Peter Kell said, "Mr Hassell failed to act in the best interests of his clients. ASIC and the courts will not tolerate conduct that does not live up to community expectations."